16 January 2011

"The barefoot investor"

I picked up a copy of The Barefoot Investor from a local library.

If you are looking for in depth investment strategies, this is not your book. But it is a really good book for finance 101 in layman's language. It covers the fundamentals like, financial goals, inflation, debts, compound interest, asset classes...etc. In my opinion, all schools should include financial education. I always think it's ironic that schools are suppose to prepare you for life - University, getting a job, ultimately becoming "rich"...but they don't think to educate kids about money and what to do with it. The book might not have taught me anything new about money but it raises a few good questions, time for a reality check!

- My financial goal is to earn as much as possible. But why?
- Does a big pay check means that you are wealthy?
- Are millionaires the happiest people on earth?
...etc.

"Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need. We've all been raised on television to believe that one day we'd all be millionaires, and movie gods, and rock stars. But we won't. And we're slowly learning that fact. And we're very very pissed off."
- Tyler Durden from Flight Club (played by Brad Pitt)